Following last week’s announcement of the settlement between Binance and US authorities, Binance.US today provided an update to the community.
In a statement, shared via social media, Binance.US claims it is not part of last week’s decision on enforcement actions. The company says that CZ has decided to step down from his role as Chairman of the Board of Binance.US.
Here is the full announcement:
“We wanted to provide an update to the community in light of last week’s news regarding CZ and
As you know, it was released with the express purpose of serving United States customers in compliance with all US rules and regulations. While we share a brand-name and industry-leading technology stack, we operate independently
To that end, we are not involved in the settlements announced last week, nor do we have pending enforcement matters with the DOJ, FinCEN, OFAC, or the CFTC. We remain fully operational and are committed to continuing to serve our customers with the same products and services as always.
That said, as CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and has transferred his voting rights through a proxy agreement, whereby his interest in the company is purely financial and we will no longer participate in our government.
We are extremely grateful to CZ for his guidance and advice over the years. With his support, we have established ourselves as the destination of choice for US customers looking for a superior crypto trading experience.
And now what? continues to be led by Norman Reed and the existing, experienced management team. We are well capitalized to continue to build and grow our platform and to do so with renewed clarity and momentum while maintaining the same commitment to being customer first. His team is as energized as ever about the opportunity for our business and our mission to modernize and democratize the financial system.”